About Workshop
Money Laundering is currently considerable issue in developing economy and developed economy also. In a nutshell money laundering is the process to legitimate or to make white the money earn from illegal means or is the series of efforts to conceal the illicit origin of proceeds. But how that efforts or money laundering damage the economy and destroy the social consequences, most of us do not know. The term “Money Laundering” are introduced to the common people of our country through passing an act in 2002 titled “Money Laundering Prevention Act-2002” where Money Laundering considered as a criminal and punishable offence. It can destroy the stability of economic growth, enhance crime and corruption and also destroy the social consequent. If we know what is money laundering, how it occurs, how to prevent and what is the benefit of prevention, we can save ourselves from doing such criminal offence, reduce the professional, individual, financial and reputational risk and collectively we can contribute in the economic development and save our social consequences. So, we should know how money laundering occurs and how to prevent it. Considering this course outline is designed below.
Workshop topics to be covered:
1. Money Laundering
- Definition
- Background
- Process
2. Impact of Money Laundering
3. Risk of Money Laundering
4. Trade Based Money Laundering
• Documentation
• Over Invoicing
• Under Invoicing
• False Invoicing
5. International Initiatives for prevention of Money Laundering
6. FATF(Financial Action Task Force) Recommendation
7. Bangladesh Initiatives
- Money Laundering Prevention Ordinance, 2008/ Act – 2009
- Anti-Terrorism Financing Ordinance,2008/ Act,2009
-Power and Responsibility of Bangladesh Bank
-Duty and Responsibility of Financial Institutions
8. Benefits of participants
9. Quiz/Case study
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